Indian Oil First Quarter Net Profit Rises 50 Per Cent At Rs 7,092 Crore


Indian Oil First Quarter Net Profit Rises 50 Per Cent At Rs 7,092 Crore

Indian Oil Corporation (IOC), the country’s largest fuel retailer, today reported a 50 per cent jump in consolidated net profit at Rs 7,092 crore for the first quarter ended June 2018 on the back of improved refining margins.

The company had reported a net profit of Rs 4,720 crore in the corresponding quarter last financial year (2017-18).

Total income of the company during the quarter also increased 15 per cent to Rs 1,52,377 crore as compared to the corresponding quarter a year ago.

IOC’s Gross Refining Margin (GRM) for the quarter increased to $10.21 per barrel as compared to $4.32 barrel reported in the corresponding quarter. Read More

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